Israel’s Economy Minister and leader of the Jewish Home party Naftali Bennett wants to end co-operation with the European Union, Haaretz has reported.

The suggestion comes as a response to new EU guidelines that advise against co-operation with Israeli bodies that are located beyond the Green Line or that have ties with settlements.

Mr Bennett’s thoughts were made known at a meeting on Monday where the impact of the new rules were discussed, Haaretz said.

Haaretz wrote: “Though Bennett wasn’t present at the meeting, he made it clear that he believed the right thing to do was end all co-operation with the European Union.”

Israel currently co-operates with the EU in a research and development programme and is in discussions over whether to continue to do so. Israel is expected to be a net recipient of £250 million if it participates in the new EU Horizon 2020 programme.

The Economy Ministry is expected to present its view on the subject to Prime Minister Benjamin Netanyahu in a few days’ time.